Year end report 2023

2023 ended with increased rental income, improved operating income, strengthened surplus ratio and improved management result. Net letting amounted to SEK 165m, one of the strongest ever for Fabege. Higher interest costs and negative value changes in the property portfolio meant that the result after tax decreased compared to the previous year.

• Rental income increased to SEK 3,336m (3,032). On a like-for-like basis, rental income increased by just over 11 per cent (5).
• Net operating income increased to SEK 2,524m (2,240). On a like-for-like basis, net operating income increased by 14 per cent (3).
• The surplus ratio amounted to 75 per cent (74).
• Revenue from residential development amounted to SEK 553m (295) and gross profit amountedto SEK 4m (-79).

• Profit from property management increased to SEK 1,458m (1,373).
• Realised and unrealised changes in the value of properties amounted to SEK -7 831m (-159).
• Net lettings during the year amounted to SEK 165m (86).
• Profit after tax for the year amounted to SEK -5,518m (2,376), corresponding to SEK -17.54
  per share (7.49).
• The Board of Directors proposes a dividend of SEK 1:80 per share (2:40) to be paid on four occasions quarterly in the amount of SEK 0:45 per share on each occasion.

“We deliver a strong result with increased rental income, improved surplus ratio, increased profit from property management and strong net letting despite a turbulent environment. During the autumn, the rental market continued to be pending, while the financing market improved considerably.” concludes Stefan Dahlbo, CEO Fabege.

Fabege AB (publ)

Presentation of the report

Stefan Dahlbo, CEO, and Åsa Bergström, CFO, will present the report today at 14:00 CET in Swedish. Follow the presentation via link: https://ir.financialhearings.com/swe-fabege-q4-2023

Dial-in number to the teleconference will be received by registering on the link below. After the registration you will be provided phone numbers and a conference ID to access the conference
https://conference.financialhearings.com/teleconference/?id=5002281

A presentation in English will be held at 15:30 CET. You can follow this via https://ir.financialhearings.com/eng-fabege-q4-report-2023

Dial-in number to the teleconference will be received by registering on the link below. After the registration you will be provided phone numbers and a conference ID to access the conference
https://conference.financialhearings.com/teleconference/?id=5008207

This information is of the type that Fabege AB is required to disclose under the EU Market Abuse Regulation. This information was released, through the provision of the above-mentioned contact person, for publication on 7 February 2024, at 12:00 CET.

For further information, please contact:
Stefan Dahlbo, President and CEO, tel. +46 (0)70-353 18 88, stefan.dahlbo@fabege.se
Åsa Bergström, Vice President and CFO, +46 (0) 8 555 148 29, asa.bergstrom@fabege.se

With a focus on mainly commercial properties, Fabege develops attractive locations in the Stockholm area. We are a present partner that puts people front and centre. Our innovative, responsible and flexible ethos enables companies, locations and our city to develop and thrive. We take a long-term approach in our perspective and ownership. We know that when we create sustainably, we also create value. The Fabege share is listed on Nasdaq Stockholm, in the Large Cap segment. For further information, please visit us at fabege.com.

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